Re:Canada Is Preparing Steel Quotas, Tariffs on China and Ot...
by JumpCrisscross on Wednesday June 27, 2018 @10:36AM
(#17408439)
> The rules of the World Trade Organization must be set by the world trading countries, not by the US
The rules I described are the rules of the WTO. They are a reasonable precondition for being treated as a free trading nation, a designation which comes with tremendous economic benefits but also risks to other trading nations.
> to arbitrate
The last time China was taken to international arbitration (by the Philippines) it ignored the rulings. China is presently brazenly breaking WTO rules. If you’re playing a board game with someone who continues to break the rules, the solution isn’t to talk about it while continuing play.
The rules of the World Trade Organization must be set by the world trading countries, not by the US. Maybe China violates so many rules because they are tailored to (made for and by) the US.
Said another way: who says that the western way is the only or the best way? Is our system working so well? We need rules which allow for different economic systems to trade with each other.
Once you have world-wide acceptable rules, you enforce those rules. Breaking the rules is part of being in the system, and exactly the reason why a WTO is needed: to arbitrate.